Ferrari N.V. (NYSE: RACE) disclosed that it has collaborated with Richard Mille. After the deal, the Haute Horlogerie brand become a supporter and proprietor for the Prancing Horse. As the Team Partner and Official Watch of Scuderia Ferrari Project Winnow, the Swiss watchmaking brand will be shown, for example, on the team's single-seaters, and the drivers' helmets, starting from the next F1 Season.
Other motorsports events such as Official Timekeeper, Competence GT, and Ferrari Challenge sponsor, Ferrari Driver Academy partner, Ferrari Esports Series Technical Partner, and the FDA Sports Squad, will also be sponsored by Richard Mille.
Shares of Ferrari N.V. (NYSE: RACE) plunged 0.65% during the trading session of Monday. Its shares traded up 53.43% from its 52-week low and tumbled -16.13% from its 52-week high. RACE’s market cap has remained high, reaching $36.63 billion at the time of writing. RACE and Richard Mille will also have their corresponding investigation and planning teams will begin a partnership in order to establish a special selection of limited-edition watches.